Kawasaki, Japan – Pioneer Electronics posted a single-digit percentage gain in sales and dramatically reduced its net loss in its fiscal 2015 first quarter ending June 30, the company announced.

0

SHARES

Kawasaki, Japan – Pioneer Electronics posted a single-digit percentage gain in sales and dramatically reduced its net loss in its fiscal 2015 first quarter ending June 30, the company announced.

The company posted sales gains in home electronics and in car electronics (OEM and aftermarket combined), but only the car audio segment posted an operating profit. The home electronics segment, which is in the process of being sold off, posted an operating loss, though the loss was fell 60 percent to 1.4 billion yen ($13.6 million). The segment earned no operating profit in fiscal 2014 and posted a 2.8 billion yen operating loss in fiscal 2013.

Home electronics sales rose 1 percent to 21.3 billion yen. “Although sales of home A/V products declined, sales of optical disc-drive-related products, DJ equipment, and equipment for cable-TV systems grew,” the company said. “Segment sales also benefited from the positive effect of the Japanese yen’s depreciation.”